HedgeFundBlogger.com Daily Newsletter by Richard Wilson

New York Hedge Fund Industry

New York Still Dominates the Hedge Fund Industry

The latest estimates reinforce a bit of common knowledge: New York is the home of the hedge fund industry. Second place belongs to London, but the city only manages about half of what New York City hedge funds controls.

New York manages by far the most hedge fund assets compared with other cities in the world, with London in a distant second place, according to research from TheCityUK.

In a report on the global hedge fund industry, TheCityUK states that 41 percent of hedge fund assets were managed out of New York during 2010, compared with 19 percent in London.

If you look only at larger hedge funds – those with more than $1 bn under management – the gap is even bigger, with New York looking after 45 percent of assets and London only 14 percent.

'The US is by far the leading location for management of hedge fund assets, with more than two thirds of the total,' the report states. Source

Longtop Financial Technologies Hedge Funds

Hedge Funds with Stakes in Longtop Financial Technologies

The last couple of days have not been kind to Longtop Financial Technologies, or its hedge fund investors. The firm's stock has fallen an incredible 25% in the last few days since Citron Research put out a report alleging that Longtop Financial Technologies' financial statements were fraudulent. Seven hedge funds may have been hurt by this as they held large positions in the firm at the end of 2010.

1. Lee Ainslie's Maverick Capital: $142 Million invested at the end of December

2. Chase Coleman's Tiger Global Management: $94 Million invested at the end of December.

3. Stephen Mandel's Lone Pine Capital: $76 Million invested at the end of December.

4. Eric Mindich's Eton Park Capital: $72 Million invested at the end of December.

5. Miguel Nogales' Generation Investment Management: $31 Million invested at the end of December.

6. Phill Gross' and Robert Atchinson's Adage Capital: $19 Million invested at the end of December.

7. J Kevin Kenny Jr's Emerging Sovereign Group: $13 Million invested at the end of December.